Connecticut head coach Kevin Ollie watches his team during practice at the NCAA college basketball tournament in New York, Thursday, March 27, 2014. Connecticut will play Michigan State Friday. (AP Photo/Peter Morgan) less

Connecticut head coach Kevin Ollie watches his team during practice at the NCAA college basketball tournament in New York, Thursday, March 27, 2014. Connecticut will play Michigan State Friday. (AP Photo/Peter ... more

Photo: Peter Morgan, Associated Press

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Connecticut coach Kevin Ollie shouts instructions during the first half in a regional semifinal against Iowa State in the NCAA men's college basketball tournament Friday, March 28, 2014, in New York. (AP Photo/Frank Franklin II) less

Connecticut coach Kevin Ollie shouts instructions during the first half in a regional semifinal against Iowa State in the NCAA men's college basketball tournament Friday, March 28, 2014, in New York. (AP ... more

Photo: Frank Franklin II, Associated Press

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NEW YORK, NY - MARCH 30: Head coach Kevin Ollie of the Connecticut Huskies cuts down the net after defeating the Michigan State Spartans to win the East Regional Final of the 2014 NCAA Men's Basketball Tournament at Madison Square Garden on March 30, 2014 in New York City. less

NEW YORK, NY - MARCH 30: Head coach Kevin Ollie of the Connecticut Huskies cuts down the net after defeating the Michigan State Spartans to win the East Regional Final of the 2014 NCAA Men's Basketball ... more

Photo: Elsa, Getty Images

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Connecticut head coach Kevin Ollie, center right, celebrates with his team after beating Michigan State 60-54 during a regional final at the NCAA college basketball tournament, Sunday, March 30, 2014, in New York. (AP Photo/Frank Franklin II) less

Connecticut head coach Kevin Ollie, center right, celebrates with his team after beating Michigan State 60-54 during a regional final at the NCAA college basketball tournament, Sunday, March 30, 2014, in New ... more

Photo: Frank Franklin II, Associated Press

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Connecticut head coach Kevin Ollie, left, works with DeAndre Daniels, right, during practice at the NCAA college basketball tournament in New York, Thursday, March 27, 2014. (AP Photo/Peter Morgan)

Connecticut head coach Kevin Ollie, left, works with DeAndre Daniels, right, during practice at the NCAA college basketball tournament in New York, Thursday, March 27, 2014. (AP Photo/Peter Morgan)

Photo: Peter Morgan, Associated Press

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UConn, Ollie reach new deal

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Kevin Ollie's deal is done.

Ryan Boatright decided to stay.

Rodney Purvis is eligible to play.

And freshman Daniel Hamilton should be on his way.

The off-season gone wild after UConn won its fourth national championship, all since 1999, appears to be heading for a calming period after Ollie and the school reached agreement on a new five-year contract Thursday afternoon. The deal could be worth about $16 million -- with incentives -- and replaces the five-year, $7 million contract Ollie agreed to in December 2012.

His salary is believed to be among the top 10 annually for college basketball coaches.

"I'm very pleased that we were able to agree to a new contract and that we'll be able to continue to build upon the success we've had," Ollie said in a statement released by the school. "It's a humbling experience to be around the UConn fans and the UConn family and to know that I am their basketball coach for the foreseeable future. I'm very proud of that. UConn is a place that I love and as I've told everyone throughout the season and through all the recent speculation, this is where my heart is. This is where I wanted to be."

The Huskies lost four seniors, including Shabazz Napier and Niels Giffey, while junior DeAndre Daniels declared early for the NBA draft from a team that beat Kentucky 60-54 on April 7 in the national championship game. But with Ollie returning, the program remains in good hands.

"Kevin Ollie is the right person to lead our men's basketball team into the future," UConn President Susan Herbst said in the same release. "Kevin has done a remarkable job as our head coach over the past two years and also during his time as a UConn student-athlete and assistant coach. He is a person of utmost character and leadership and embodies everything we stand for here at the University of Connecticut."

Not only has Ollie shined on the floor coaching the Huskies, but he has made a difference in the classroom, where the program fell off in recent years and received a one-year postseason ban for being deficient in the Academic Progress Rate. Under the 41-year-old Ollie, UConn players scored a perfect 1,000 APR for the 2012-13 season.

"I am very happy that Kevin Ollie will continue to direct our men's basketball program," UConn Director of Athletics Warde Manuel said in the statement. "It is a great day for the University of Connecticut and for Kevin. Kevin has accomplished a great deal during his first two seasons as our head coach both on and off the court and I am very excited about the future of our program."

Despite his name surfacing for several openings in the NBA, including in the city where he grew up -- the Los Angeles Lakers -- Ollie only spoke briefly with one team, the Cleveland Cavaliers, before striking a deal to stay in Storrs.

In two seasons with the Huskies, Ollie has a 52-18 record, including 8-1 in the postseason (6-0 NCAA tournament) after replacing Hall of Fame coach Jim Calhoun in September 2012.

Under the new contract, Ollie receives a base salary of $400,000 on an annual basis. He also receives an annual payment for public relations, consulting and media appearances, starting with $2.4 million in 2014-15 and increasing by $100,000 each year after until he reaches $3.2 million in 2018-19.

In addition to his salary and appearance fees, Ollie will receive additional compensation for postseason and classroom performances. Also included in the contract is a buyout clause for NCAA and NBA provisions.

If Ollie were to leave for another college or NBA job in 2014-15 or 2015-16, the buyout would be $5 million and $4 million, respectively. The number drops to $1 million for the final three years of the contract for an NBA position while another college job would require a $3 million buyout in 2016-17 and $2 million in the final two years.

It is unclear if assistant coaches' salaries were addressed in the negotiations, which were reported to be one of the sticking points.

UConn figures to be one of the favorites in its second season in the American Athletic Conference along with SMU. The Huskies also have a challenging non-league schedule with the Puerto Rico Tip Off along with games at Florida and Stanford, a home date with Texas and a late-December contest against Duke at the Izod Center in New Jersey.

Besides Boatright and North Carolina State transfer Purvis, the Huskies return 7-foot center Amida Brimah and bring in a three-player class that include Hamilton and guard Sam Cassell Jr. UConn also has three available scholarships, which Ollie said might include one more player for next season if they can find the right fit.